I belive that 330 man does not tell a complete accurate picture of how it is in the land of opportunity. Both United and US Air pilots voluntarliy gave up their pensions which has turned the US industry into a tailspin. They voted to get rid of them. Now Northwest Delta American etc etc are brow betting their pilots to follow US Air and Untieds "lead".
LHR Rain that statement is so wrong that I don't even know where to begin.
Number 1: USAirways pilots did not vote to give up their pension. The company held a gun to the Union's head and said, "give up the pensions or we'll liquidate the company". The Union, with no vote from the pilot group, agreed to this demand. Faced with a 100% cut in pay for all members and the loss of their pensions or just the loss of the pensions, the Union did the only thing they could have. Perhaps they could have called the bluff, but then again maybe it wasn't a bluff.
Number 2: The pilot groups at both USAirways and United were trying to get the government rules regarding pension funds changed so that the funds wouldn't have to be terminated in the first place. The pension funding rules and those that put pensions funds up for termination never expected the "perfect storm"of the post 9-11 downfall of the financial markets and the company's inability to make required payments. They wouldn't allow for a reasonable time to recoup the underfunded amount with a payment schedule stretched over a longer period of time.
Number 3: The termination of the United and USAirways pension funds is not what has put the U.S. airline industry into a tailspin. It was the after effects of the post 9-11 downturn in air travel combined with the collapse of the stock market bubble of the late 90s. The airline industry in the U.S. was already beginning to suffer before 9-11 happened. The high end business traveller who had been fleeced for so many years was abandoning the major airlines in favor of corporate fractional operators. 9-11 only served to accelerate that process due to the percieved safety issues of travelling on a commercial airliner as well as the hassle of security screening. Into this market situation the Low Cost Carriers arrive to steal the holiday traveller away, further reducing load factors and eroding yield.
Typhoonpilot